Overview

What are NextShares?

For important information about NextShares, click here.

Historical Returns (%) as of Mar 31, 2018

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than or equal to one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.
 

Fund Facts as of May 31, 2018

Inception 02/25/2016
Investment Objective Long-term capital appreciation
Total Net Assets2 $12.6M
Total Net Assets of Portfolio2 $626.3M
Exchange NASDAQ
Shares Outstanding 950000
Expense Ratio (Gross)3 1.26%
Expense Ratio (Net)3,4 0.65%
CUSIP 27830G608

Top 10 Holdings (%)5,6,7 as of May 31, 2018

Apple Inc
Amazon.com Inc
Microsoft Corp
Alphabet Inc - CL C
Facebook Inc
Bank of America Corp
Johnson & Johnson
Walt Disney Co
FedEx Corp
Mondelez International Inc
Total 29.43
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Mar 31, 2018

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than or equal to one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.
 

Calendar Year Returns (%)

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Fund at NAV 20.43
Fund at Market Price 20.43
S&P 500 Index1 -37.00 26.46 15.06 2.11 16.00 32.39 13.69 1.38 11.96 21.83
See above note regarding performance calculations. There is no Fund at Market Price performance because the Fund has not completed a calendar year of operations.
 

Fund Facts

Expense Ratio (Gross)3 1.26%
Expense Ratio (Net)3,4 0.65%
Inception 02/25/2016
Distribution Frequency Annually
 

NAV History8

Date NAV NAV Change
Jun 21, 2018 $13.53 -$0.09
Jun 20, 2018 $13.62 $0.02
Jun 19, 2018 $13.60 -$0.04
Jun 18, 2018 $13.64 -$0.01
Jun 15, 2018 $13.65 -$0.02
Jun 14, 2018 $13.67 $0.04
Jun 13, 2018 $13.63 -$0.06
Jun 12, 2018 $13.69 $0.01
Jun 11, 2018 $13.68 $0.03
Jun 08, 2018 $13.65 $0.06
 

Distribution History9,10

Ex-Date Distribution
Dec 19, 2017 $0.06220
Aug 02, 2017 $0.00580
Dec 13, 2016 $0.06410
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History9,10

Ex-Date Short-Term Long-Term
Dec 19, 2017 $0.12815 $0.11215
Aug 02, 2017 $0.11160
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Trading & Portfolio

Trade Data11 as of Jun 21, 2018

vs. Prior Business Day Change (%)
Closing Price $13.53 -$0.09 -0.67%
Closing NAV $13.53 -$0.09 -0.67%
Closing Bid/Ask
Midpoint (of bid/ask) NAV+$0.00
Spread (between bid/ask) $0.04
Intraday Price (vs. NAV)
High NAV
Low NAV
Average (Volume-Wtd) NAV
Closing NAV
Trading Volume (Shares)
 

Trading History12 Inception through Jun 21, 2018

 

Historical Premiums/Discounts and Trading Spreads13 Inception through Jun 21, 2018

Premium/Discount Closing
Range Closing Price Vol Wtd Ave Price Closing Bid/Ask Midpoint Bid/Ask Spread
>1.00%
+0.76% to +1.00% 3%
+0.51% to +0.75% 1%
+0.26% to +0.50% 1% 23%
-0.25% to +0.25% 98% 98% 99% 74%
-0.26% to -0.50% 2% 2% 0%
-0.51% to -0.75% 0% 0%
-0.76% to -1.00%
<-1.00%
 

Asset Mix (%)6,7 as of May 31, 2018

Portfolio Statistics6 as of May 31, 2018

Average Market Cap $211.5B
Price/Earnings Ratio 16.87
Number of Holdings 71
Price/Book Ratio 3.13
Active Share14 66.08%
 

GICS Sector Breakdown (%)6,7 as of May 31, 2018

 

Portfolio Holdings6,7,15 as of Apr 30, 2018

Holding % of Net Assets
Apple Inc 3.56%
Amazon.com Inc 3.37%
Microsoft Corp 3.23%
Bank of America Corp 3.14%
Alphabet Inc - CL C 2.98%
Walt Disney Co 2.61%
Johnson & Johnson 2.45%
FedEx Corp 2.30%
Verizon Communications Inc 2.27%
JPMorgan Chase & Co 2.22%
View All
 

Basket Details16 Jun 25, 2018

Holding Shares
View All

Transaction Fees17,18,19 Jun 25, 2018

No. of Creation Units Fee per Creation Unit (bps)
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

The value of equity securities is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Charles Gaffney

Charles Gaffney

Vice President, Eaton Vance Management
Joined Eaton Vance 2003

Biography

Charles Gaffney is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s global core team. He is responsible for buy and sell decisions, portfolio construction and risk management for a number of the firm’s global core equity strategies. He is a member of the firm’s Equity Strategy Committee. He joined Eaton Vance in 2003.

Charlie began his career in the investment management industry in 1996. Before joining Eaton Vance, he was affiliated with Brown Brothers Harriman as a sector portfolio manager and Morgan Stanley Dean Witter as a senior equity analyst.

Charlie earned a B.A. from Bowdoin College in 1995 and an MBA from Fordham University in 2002.

Education
  • B.A. Bowdoin College
  • M.B.A. Graduate School of Business, Fordham University

Experience
  • Managed Fund since inception

 

Literature

Literature

Fact Sheet

Download - Last updated: Mar 31, 2018

NextShares Brochure

Download - Last updated: Oct 21, 2016

Annual Report

Download - Last updated: Dec 31, 2017

Full Prospectus

Download - Last updated: May 1, 2018

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Download

Notice

Download - Last updated: Mar 6, 2018

SAI

Download - Last updated: May 1, 2018

Semi-Annual Report

Download - Last updated: Jun 30, 2017

Summary Prospectus

Download - Last updated: May 1, 2018

XBRL

Download - Last updated: May 10, 2018